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Non-Tech : E*Trade (NYSE:ET)

ET 16.49

-0.1%

Nov 24 3:59 PM EST

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To: Thai Chung who wrote (5148)	2/12/1999 12:03:00 PM
From: Alper H.YUKSEL	Read Replies (1) of 13953

The below is from The Street.com. A few details about the glitch last week : ......Sometimes a boast can backfire. One CEO tempted fate when he boasted of how his software helps to run ETrade's (EGRP:Nasdaq) site on the Internet. In his presentation Thursday, BEA Systems (BEAS:Nasdaq) CEO William Coleman ran through the list of his company's clientele for its middleware software. But when he mentioned ETrade, it spurred a round of chuckles in the back rows. "Yeah, too bad it doesn't work," said one fund manager. ETrade's system had technical glitches for three days last week, causing an uproar among individual investors who use the system to trade stocks. The company attributed to the failure to a software upgrade gone awry. Coleman made a quick recovery and explained that at least his software worked. "The problem was in the back end with an old legacy system," he said. At least now, ETrade has made replacing that system a priority. And guess who ETrade selected to help fix the problem? No other than BEA, Coleman said. ETrade's snafu is BEA's gain.......

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